ACT
Is there a first home buyers grant?
Yes, there is a grant of $7,000 to help fund the purchase of a new or substantially renovated home. Properties of $750,000 or less are eligible.
Are stamp duty concessions available?
Yes, stamp duty concessions are available on new or substantially renovated properties valued at less than $562,000.
| Purchase value | Concessional duty payable |
|---|---|
| $455,000 or less | $20 (minimum duty) |
| $455,001 to $585,000 | $13.60 for each $100 or part thereof by which the dutiable value exceeds $455,000 |
| $585,000 or more | No concession |
| Vacant land $272,200 or less | $20 (minimum duty) |
| Vacant land $262,201 to $317,600 | $13.55 for each $100 or part thereof by which the dutiable value exceeds $262,200 |
| $317,600 or more | No concession |
NSW
Is there a first home buyers grant?
Yes, the First Home Owner Grant (New Homes) scheme offers a $10,000 grant for the purchase of new and substantially renovated homes. The value of the property must not exceed $750,000.
Are stamp duty concessions available?
Yes, the First Home – New Home scheme provides first home buyers with exemptions from transfer duty on new homes valued up to $550,000 and concessions for new homes valued between $550,000 and $650,000. No duty is payable by eligible purchasers buying a vacant block of residential land valued at up to $350,000, while concessions are available for vacant land purchased for between $350,000 and $450,000.
| Purchase Price | First Home - New Home Duty |
|---|---|
| $550,000 | $0 |
| $575,000 | $6,185 |
| $600,000 | $12,370 |
| $625,000 | $18,555 |
| $650,000 | No discount |
VIC
Is there a first home buyers grant?
Yes, the $10,000 First Home Owner Grant is available to eligible applicants buying or building a new home valued at up to $750,000. From 1 July, a $20,000 First Home Owner Grant will be available to applicants buying or building a new home in regional Victoria valued up to $750,000.
Are duty concessions available?
Yes, if you are buying your first home and it is valued at less than $600,000, you may be eligible for a duty reduction of up to 50%. This concession applies to new and established homes.
From 1 July, first home buyers purchasing a new or established home valued below $600,000 will be exempt from stamp duty, while buyers purchasing a new or established home valued between $600,000 and $750,000 will be eligible for a stamp duty concession, applied on a sliding scale.
QLD
Is there a first home buyers grant?
Yes, the Queensland First Home Owners’ Grant offers $20,000 (until midnight 30 June 2017) to first-time owners buying or building a new home. The grant is available for properties valued at less than $750,000. For contracts entered into on or after 1 July 2017, this amount will decrease to $15,000.
For contracts entered into on or after 1 July 2017, this amount will decrease to $15,000.
Are transfer duty concessions available?
Yes, stamp duty concessions are available if you buy a home valued less than $550,000 or vacant land less than $400,000. The more you pay for your home or land within these limits, the smaller the concession available.
| Purchase price | Concession (to be deducted from duty rate) |
|---|---|
| Up to $504,999.99 | $8,750 |
| $505,000 to $549,999.99 | Concessions of between $7,875 and $875 |
| $550,000+ | No concession |
| Vacant land $250,000 or less | 100% of transfer duty |
| Vacant land $250,001 to $399,999.99 | Concession of between $7,175 and $525 |
WA
Is there a first home buyers grant?
Yes, the FHOG of $10,000 is available if you are buying or building a new home. Eligible properties located south of the 26th parallel of south latitude are limited to $750,000, while properties north of the 26th parallel of south latitude are limited to $1 million.
Current boost of $5,000 available for first home buyers who purchase new or construct a property and enter into a contract between 1 January and 31 December 2017. Owner builders who lay foundations between the same dates will also receive the additional $5,000.
Are stamp duty concessions available?
Yes, the First Home Owner Rate of Duty provides exemptions and concessions when purchasing homes valued at less than $530,000 and vacant land less than $400,000.
| Purchase Price | Grant/Concession |
|---|---|
| Less than $430,000 | Exempt from stamp duty |
| $430,000 to $530,000 | Duty payable at a rate of $19.19 for every $100, or part of $100, by which the value exceeds $430,000 |
| $530,001 or more | No concession or exemption |
| Vacant land less than $300,000 | Exempt from stamp duty |
| Vacant land $300,000 to $400,000 | Duty payable at a rate of $13.01 for every $100, or part of $100, by which the value exceeds $300,000 |
| Vacant land $400,000 or more | No concession or exemption |
SA
Is there a first home buyers grant?
Yes, the FHOG of up to $15,000 is available for the purchase and construction of new homes valued up to $575,000.
Are stamp duty concessions available?
There no exemptions specific to First Home Buyers but you may be eligible for the off-the-plan stamp duty concession if you purchase a new or substantially refurbished apartment, capped at the stamp duty payable on a $500,000 valued apartment.
TAS
Is there a first home buyers grant?
Yes, the $20,000 FHOG is available for buying a new home, buying a home off the plan or building a new home.
The payment will revert to $10,000 for transactions entered into from 1 July 2017.
Are property transfer duty concessions available?
No, there are no concessions or exemptions from stamp duty for first home buyers in Tasmania.
NT
Is there a first home buyers grant?
Yes, the $26,000 FHOG is available to eligible applicants who purchase or construct a new home. No limit applies to the value of the property you buy or build.
Are stamp duty concessions available?
Yes, the First Home Owner Discount (FHOD) is available to who enter into a contract to purchase an established home from 24 May 2016. This discount is a full concession on the initial $500,000 value of the home, which equates to a saving of up to $23,928.60 on stamp duty. For homes valued above $650,000 and purchased or contracts entered into before 31 December 2016 the concession is capped at $10,000. Below is a table outlining possible stamp duty savings with the FHOD.
| Purchase Price | Stamp duty amount | FHOD | Stamp duty amount after FHOD |
|---|---|---|---|
| $400,000 | $16,514.30 | Full concession | $0.00 |
| $450,000 | $20,057.15 | Full concession | $0.00 |
| $500,000 | $23,928.60 | Full concession | $0.00 |
| $650,000 | $32,175.00 | $23,928.60 (full concession on first $500,000 value) | $8,246.40 |
| $700,000 | $34,650.00 | $10,000 (for properties purchased before 31 December 2016) | $24,650.00 |